May 10, 2018
Price data for April, beginning with average hourly earnings in last week's employment report to today's CPI, have been running cool, up 0.2 percent overall and up only 0.1 percent for the core. The results aren't turning up the heat on the Federal Reserve to raise rates any faster, reflected in the bond market where demand has held steady all week.
No greater risk of rate hikes is a plus for the stock market and the day's gains are strong, up 0.8 percent for the Dow to 24,739. Oil, which moved over $70 following U.S. sanctions against Iran, edged higher toward $71.50. The dollar index, which has been on the rise, fell back 0.5 percent to 92.67.